Buy/Sell Order Functionality
In addition to auto-investing into your entire portfolio, an M1 user has the flexibility to make individual buy and sell orders on any slice in their portfolio. For all orders there are two inputs: slice and dollar amount. For buy orders, the user chooses which slice to buy and how much (in dollars) to purchase. All orders will be taken into account during the next trading window.
How to place orders: step-by-step.
Buy Orders
Placing a buy order signals to the M1 trading system that you would like to purchase a dollar amount of a specified slice. To make buy orders a user must have cash available to trade; M1 will not withdraw money from your bank to complete a buy order. Cash available to trade is the summation of their cash, their sell orders, and incoming deposits.
Example: Jenny places a $100 buy order for Stock A. Jenny (if she has the funds available) will purchase $100 of Stock A during the next trading window.
Sell Orders
Placing a sell order signals to the M1 trading system that you would like to sell a dollar amount of a specified slice. The maximum sell order for any slice is the current value of that slice. Money from a sell order can be used to place a buy order; it can also can be held as cash, or can be re-invested in your portfolio depending on your Cash Balance Control settings.
Example: Jenny places a $100 sell order for Stock B. Jenny (if the slice has enough value) will sell $100 of Stock B during the next trading window.
Buy/Sell Order FAQs
Can I rebalance my portfolio and make buy/sell orders at the same time?
No, a user cannot make individual buy/sell orders and rebalance requests during the same trade window.
How will M1 treat my buy orders if I don't have enough to trade?
To fulfill buy orders, a user will need cash available to trade. If the cash available to trade for a user is less than the summation of all of his or her buy orders then M1 will prorate the requested buys. M1 will not withdraw additional cash from a connected bank account unless a deposit into M1 is scheduled or requested.
